Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission (SEC), has hinted at potential future plans involving Non-Fungible Tokens (NFTs) after her time at the SEC concludes. Known by many in the crypto industry as "Crypto Mom" due to her generally pro-crypto stance, Peirce addressed speculation about her future at a recent Coin Center event.
Peirce's term officially expired in June 2025, but SEC commissioners can serve up to an additional 18 months until the U.S. Senate confirms a replacement. When asked about her plans, Peirce initially joked about transitioning to beekeeping before revealing a more crypto-related path. While clarifying that she was joking about becoming an NFT creator, she signaled that she was working on something in the NFT space. Peirce stated her post-SEC plan involves creating an NFT collection featuring characters she has encountered in the crypto world, particularly those at the intersection of crypto and policy. These NFTs would seemingly represent figures from various areas, including crypto CEOs, traditional finance, regulators, and digital asset influencers.
Throughout her tenure at the SEC, Peirce has been a vocal advocate for the crypto and blockchain industry, often supporting policy proposals favorable to the sector. Following the departure of former Chair Gary Gensler in January 2025, she announced a crypto task force to develop a framework for digital assets.
Peirce has also expressed views on how NFTs should be treated under securities laws. She believes that many NFTs, especially those that provide royalties to creators, should not be classified as securities. She has also suggested that NFT-based fundraising projects, such as Stoner Cats and Flyfish Club, should be exempt from securities regulations. Peirce stated that the SEC might issue guidance to provide a framework for NFT issuers, potentially excluding art NFTs from securities classification. However, she clarified that if an NFT is structured as a tokenized security, it would not be exempt.
Peirce has emphasized that if crypto tokens do not represent economic rights or interests in a business and are used solely for consumption, they should be exempt from federal securities laws. She believes the analysis remains the same even if purchasers are speculating on the future value of the crypto asset. Challenges arise when non-security cryptos are distributed early in the development of a network before the assets can function, while the network is centralized. In these instances, pre-sales and ICOs can influence a buyer's expectations, potentially leading to the purchase of a non-functioning crypto asset.
